Renowned financial author Robert Kiyosaki, behind the best-selling personal finance book “Rich Dad Poor Dad,” has warned about the state of the global economy, citing the United States Federal Reserve decisions as the catalyst for an imminent market crash.
Kiyosaki criticized the Fed’s move to raise interest rates, stating that it would lead to the downfall of the stocks, bonds, real estate, and the U.S. dollar, while cautioning that the next financial crash would stem from the derivatives market, he said in a tweet on March 23.
The author further claimed that Klaus Schwab, the founder of the World Economic Forum (WEF), influences top U.S. financial leaders insinuating that they are under his control and may act in his interests rather than those of the American people.
“FED’s Powell F’ed everyone. Raising interest rates will crash stocks, bonds, real estate, & $ U.S. dollar. NEXT CRASH: $ 1 quadrillion derivatives market. $ 1 quadrillion is $1 thousand trillion. God have mercy on our world. Klaus Schwab owns Powell, Yellin, & Biden’s souls,” Kiyosaki tweeted.
Criticism of the Fed
The financial author’s latest warning came after the Federal Reserve announced its ninth consecutive rate hike amid concerns about the country’s banking system resilience and possible recession.
Indeed, the author has long blamed the Fed for the deteriorating economic conditions. He maintains that the institution is responsible for the skyrocketing inflation over increased money printing.
He previously took a swipe at Fed chair Jerome Powell for lying about the true state of inflation in the United States.
“Inflation is now systemic. You will pay more and more next year than we are after. When that guy Powell, who is the Fed chairman today, says inflation is transitory, he was lying through his teeth,” he said.
Possible dollar crash
In this line, Kiyosaki maintains that the dollar will likely crash and lose its status as the world’s reserve currency. In a Finbold report, the investor referenced the dollar as ‘toilet paper.’
Despite Kiyosaki’s concerns over the potential economic collapse, he believes alternatives exist to cushion investors against the effects of a possible economic crash. He has suggested that Bitcoin (BTC), and precious metals such as gold and silver, are valuable assets to protect against mounting inflationary pressures.
Featured image via The Rich Dad Youtube Channel